81156 Federal Register / Vol. 88, No. 223 / Tuesday, November 21, 2023 / Notices 

10Of note, pursuant to (a) and (d) of Rule 15c6– 

1, the parties may expressly agree to a different 

settlement date at the time of the transaction. 

11See supra note 3. 

12 15 U.S.C. 78s(b)(3)(A)(iii). 

13 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6) requires a self-regulatory organization to give 

the Commission written notice of its intent to file 

the proposed rule change at least five business days 

prior to the date of filing of the proposed rule 

change, or such shorter time as designated by the 

Commission. The Exchange has satisfied this 

requirement. 14 17 CFR 200.30–3(a)(12). 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 98563 

(Sept. 27, 2023), 88 FR 68214. The Commission has 

received no comments on the proposal. 

4 15 U.S.C. 78s(b)(2). 

securities) that provide for payment of 

funds and delivery of securities that 

occur on Nasdaq or other self-regulatory 

organizations.10 Moreover, the proposal 

is consistent with the Commission’s 

amendment to Rule 15c6–1(a) of the Act 

to require standard settlement no later 

than T+1. Accordingly, Nasdaq believes 

that the proposed amendments do not 

impose any intra-market or inter-market 

burdens on competition because the 

amendments conform Nasdaq’s rules 

with the adopted rule amendments to 

shorten the standard settlement cycle 

for most broker-dealer transactions from 

T+2 to T+1.11 Specifically, the proposed 

amendments include changes to rules 

that specifically establish the settlement 

cycle as well as rules that establish time 

frames based on settlement dates, 

including for certain post-settlement 

rights and obligations. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were either 

solicited or received. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the foregoing proposed rule 

change does not: (i) significantly affect 

the protection of investors or the public 

interest; (ii) impose any significant 

burden on competition; and (iii) become 

operative for 30 days from the date on 

which it was filed, or such shorter time 

as the Commission may designate, it has 

become effective pursuant to Section 

19(b)(3)(A)(iii) of the Act 12 and 

subparagraph (f)(6) of Rule 19b–4 

thereunder.13

At any time within 60 days of the 

filing of the proposed rule change, the 

Commission summarily may 

temporarily suspend such rule change if 

it appears to the Commission that such 

action is necessary or appropriate in the 

public interest, for the protection of 

investors, or otherwise in furtherance of 

the purposes of the Act. If the 

Commission takes such action, the 

Commission shall institute proceedings 

to determine whether the proposed rule 

should be approved or disapproved. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views and 

arguments concerning the foregoing, 

including whether the proposed rule 

change is consistent with the Act. 

Comments may be submitted by any of 

the following methods: 

Electronic Comments 

• Use the Commission’s internet 

comment form (https://www.sec.gov/ 

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include file number SR– 

NASDAQ–2023–046 on the subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Secretary, Securities and Exchange 

Commission, 100 F Street NE, 

Washington, DC 20549–1090. 

All submissions should refer to file 

number SR–NASDAQ–2023–046. This 

file number should be included on the 

subject line if email is used. To help the 

Commission process and review your 

comments more efficiently, please use 

only one method. The Commission will 

post all comments on the Commission’s 

internet website (https://www.sec.gov/ 

rules/sro.shtml). Copies of the 

submission, all subsequent 

amendments, all written statements 

with respect to the proposed rule 

change that are filed with the 

Commission, and all written 

communications relating to the 

proposed rule change between the 

Commission and any person, other than 

those that may be withheld from the 

public in accordance with the 

provisions of 5 U.S.C. 552, will be 

available for website viewing and 

printing in the Commission’s Public 

Reference Room, 100 F Street NE, 

Washington, DC 20549, on official 

business days between the hours of 10 

a.m. and 3 p.m. Copies of the filing also 

will be available for inspection and 

copying at the principal office of the 

Exchange. Do not include personal 

identifiable information in submissions; 

you should submit only information 

that you wish to make available 

publicly. We may redact in part or 

withhold entirely from publication 

submitted material that is obscene or 

subject to copyright protection. All 

submissions should refer to file number 

SR–NASDAQ–2023–046 and should be 

submitted on or before December 12, 

2023. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.14

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2023–25667 Filed 11–20–23; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–98948; File No. SR– 

NASDAQ–2023–035] 

Self-Regulatory Organizations; The 

Nasdaq Stock Market LLC; Notice of 

Designation of a Longer Period for 

Commission Action on a Proposed 

Rule Change To List and Trade Shares 

of the Hashdex Nasdaq Ethereum ETF 

Under Nasdaq Rule 5711(i) 

November 15, 2023. 

On September 20, 2023, The Nasdaq 

Stock Market LLC (‘‘Nasdaq’’) filed with 

the Securities and Exchange 

Commission (‘‘Commission’’), pursuant 

to Section 19(b)(1) of the Securities 

Exchange Act of 1934 (‘‘Act’’) 1 and Rule 

19b–4 thereunder,2 a proposed rule 

change to list and trade shares of the 

Hashdex Nasdaq Ethereum ETF under 

Nasdaq Rule 5711(i) (Trust Units). The 

proposed rule change was published for 

comment in the Federal Register on 

October 3, 2023.3

Section 19(b)(2) of the Act 4 provides 

that within 45 days of the publication of 

notice of the filing of a proposed rule 

change, or within such longer period up 

to 90 days as the Commission may 

designate if it finds such longer period 

to be appropriate and publishes its 

reasons for so finding or as to which the 

self-regulatory organization consents, 

the Commission shall either approve the 

proposed rule change, disapprove the 

proposed rule change, or institute 

proceedings to determine whether the 

proposed rule change should be 

disapproved. The 45th day after 

publication of the notice for this 

proposed rule change is November 17, 

2023. The Commission is extending this 

45-day time period. 

The Commission finds it appropriate 

to designate a longer period within 

which to take action on the proposed 

rule change so that it has sufficient time 

to consider the proposed rule change 

and the issues raised therein. 

Accordingly, the Commission, pursuant 


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Federal Register / Vol. 88, No. 223 / Tuesday, November 21, 2023 / Notices 81157 

5 15 U.S.C. 78s(b)(2). 

6 17 CFR 200.30–3(a)(31). 

1 15 U.S.C. 78s(b)(1). 

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4See Securities Exchange Act Release No. 93803 

(December 16, 2021), 86 FR 72647 (December 22, 

2021) (SR–NYSEAMER–2021–46) (Notice of Filing 

and Immediate Effectiveness of Proposed Rule 

Change to Adopt a New Historical Market Data 

Product to Be Known as the NYSE Options OpenClose Volume Summary) (‘‘Product Filing’’). 

5References to ‘‘member organization’’ as used in 

Exchange rules include American Trading Permit 

(‘‘ATP’’) Holders, which are registered brokers or 

dealers approved to effect transactions on the 

Exchange’s options marketplace. Under the 

Exchange’s rules, an ATP Holder has the status as 

a ‘‘member’’ of the Exchange as that term is defined 

in Section 3 of the Act. See Rule 900.2NY. 

6The Exchange has announced that it will begin 

[sic] migrating Exchange-listed options to the Pillar 

technology platform on October 23, 2023, available 

here: https://www.nyse.com/trader-update/history?

page=5#110000635130. 

7See Securities Exchange Act Release No. 94334 

(March 1, 2022), 87 FR 12748 (March 7, 2022) (SR– 

NYSEAMER–2022–11) (Notice of Filing and 

Immediate Effectiveness of Proposed Change To 

Amend the NYSE American Options Proprietary 

Market Data Fee Schedule). 

8The terms Customer, Professional Customer, 

Firm and Market Maker are defined in Rule 

900.2NY. 

to Section 19(b)(2) of the Act,5

designates January 1, 2024, as the date 

by which the Commission shall either 

approve or disapprove, or institute 

proceedings to determine whether to 

disapprove, the proposed rule change 

(File No. SR–NASDAQ–2023–035). 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.6

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2023–25662 Filed 11–20–23; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–98951; File No. SR– 

NYSEAMER–2023–58] 

Self-Regulatory Organizations; NYSE 

American LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Change To Amend the NYSE American 

Options Proprietary Market Data Fee 

Schedule 

November 15, 2023. 

Pursuant to Section 19(b)(1) 1 of the 

Securities Exchange Act of 1934 

(‘‘Act’’) 2 and Rule 19b–4 thereunder,3

notice is hereby given that, on 

November 1, 2023, NYSE American LLC 

(‘‘NYSE American’’ or ‘‘Exchange’’) filed 

with the Securities and Exchange 

Commission (‘‘Commission’’) the 

proposed rule change as described in 

Items I, II, and III below, which Items 

have been prepared by the selfregulatory organization. The 

Commission is publishing this notice to 

solicit comments on the proposed rule 

change from interested persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Exchange proposes to amend the 

NYSE American Options Proprietary 

Market Data Fee Schedule (‘‘Fee 

Schedule’’) to adopt fees for the NYSE 

Options Open-Close Volume Summary 

market data product, effective 

November 1, 2023. The proposed rule 

change is available on the Exchange’s 

website at www.nyse.com, at the 

principal office of the Exchange, and at 

the Commission’s Public Reference 

Room. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, the 

self-regulatory organization included 

statements concerning the purpose of, 

and basis for, the proposed rule change 

and discussed any comments it received 

on the proposed rule change. The text 

of those statements may be examined at 

the places specified in Item IV below. 

The Exchange has prepared summaries, 

set forth in sections A, B, and C below, 

of the most significant parts of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to amend the 

Fee Schedule to adopt fees for the NYSE 

Options Open-Close Volume Summary,4

which will be available for purchase by 

any market participant, i.e., members 5

and non-members. The Exchange 

proposes to implement fees for the 

NYSE Options Open-Close Volume 

Summary market data product on 

November 1, 2023.6 The proposed fees 

would be applied equally to all market 

participants and all market participants 

would receive the same information in 

the data feed. 

Background 

By way of background, pursuant to 

the Product Filing, the Exchange 

adopted two versions of the NYSE 

Options Open-Close Volume Summary: 

an End of Day Volume Summary market 

data product and an Intra-Day Volume 

Summary market data product. The 

Exchange initially introduced the End of 

Day Volume Summary market data 

product on March 1, 2022 and adopted 

fees for the End of Day Volume 

Summary market data product.7 The 

purpose of this filing is to adopt fees for 

the Intra-Day Volume Summary market 

data product. 

The Intra-Day Volume Summary 

provides a volume summary of trading 

activity on the Exchange at the option 

level by origin (Customer, Professional 

Customer, Firm, Broker-Dealer, and 

Market Maker 8), side of the market (buy 

or sell), contract volume, and 

transaction type (opening or closing). 

The Customer, Professional Customer, 

Firm, Broker-Dealer, and Market Maker 

volume is further broken down into 

trade size buckets (less than 100 

contracts, 100–199 contracts, greater 

than 199 contracts). The Intra-Day 

Volume Summary provides similar 

information to that of the End of Day 

Volume Summary but is produced and 

updated every 10 minutes during the 

trading day. The data is captured in 

‘‘snapshots’’ taken every 10 minutes 

throughout the trading day and will be 

available to subscribers within five 

minutes of the conclusion of each 10- 

minute period. Each update would 

represent combined data captured from 

the current ‘‘snapshot’’ and all previous 

‘‘snapshots’’ and thus would provide 

open-close data on an aggregate basis. 

The NYSE Options Open-Close 

Volume Summary is proprietary 

Exchange trade data and does not 

include trade data from any other 

exchange. It is also a historical data 

product and not a real-time data feed. 

The Exchange anticipates a wide 

variety of market participants to 

purchase the Intra-Day Volume 

Summary data product, including, but 

not limited to, individual customers, 

buy-side investors, and investment 

banks. The Exchange believes the IntraDay Volume Summary would provide 

subscribers data that should enhance 

their ability to analyze options trade and 

volume data, and to create and test 

trading models and analytical strategies. 

The Exchange believes the Intra-Day 

Volume Summary will be a valuable 

tool that subscribers can use to gain 

comprehensive insight into the trading 

activity in a particular options series. 

The Intra-Day Volume Summary is a 

completely voluntary product, in that 

the Exchange is not required by any rule 

or regulation to make this data available 

and that potential subscribers may 


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